Indicators in several markets show 2022 will be a year of slower growth compared to the previous year. Monthly rate-of-change in the U.S. and European industrial sectors are showing signs of slowing growth.
Residential construction growth will decline as well, which will impact new orders of construction equipment. Agricultural equipment sales in the U.S. and Europe are also slowing due to changing economic conditions and supply chains.
NOTE: All data for charts supplied by ITR Economics